INSURANCE COVERAGE AND CLAIMS
This page explains how insurance is typically structured in connection with services provided by Aiston Fine Art Services, including how coverage may apply, what insurance does and does not cover, and how claims may be handled depending on whether insurance is arranged through Aiston or independently by the client.
This information is provided for general informational purposes only. It does not constitute legal advice, an insurance contract, a guarantee of coverage, or a modification of any policy, agreement, or limitation of liability.
All services provided by Aiston Fine Art Services are governed exclusively by Aiston’s Terms and Conditions, Services Agreement, Storage Agreement, Booking Confirmations, Warehouse Receipts, Bills of Lading, and any other governing documents issued in connection with a particular engagement. In the event of any inconsistency, the applicable governing document shall control in all respects.
WHY MANY CLIENTS CHOOSE TO INSURE THEIR PROPERTY
Fine art and other high value property are inherently sensitive to handling, transit, installation, and environmental conditions. Even with experienced personnel, purpose built equipment, and controlled facilities, risk cannot be entirely eliminated.
While Aiston maintains legal liability insurance as described below, many clients elect to insure their property on an all risks basis during the period it is in Aiston’s care. Doing so may provide a practical means of protecting value and simplifying the claims process in the event of loss or damage.
Clients frequently elect to arrange insurance coverage for several reasons, including:
- Coverage may apply to covered physical loss or damage without requiring proof of negligence, subject to policy terms and exclusions
- Insurance may remain continuous across packing, handling, transportation, installation, and storage depending on the scope of coverage placed
- Coverage may be structured specifically for fine art and other valuable property
- Declared values can be established in advance for a specific shipment, project, or storage program
- Claims are handled within an insurance framework familiar with fine art loss scenarios
Insurance, when arranged through Aiston, is placed through independent insurers and is subject to underwriting review and confirmation. Pricing and terms vary depending on the nature of the property, declared value, location, duration of storage or transit, and other underwriting considerations.
Clients interested in insurance coverage should request this as part of the quotation or booking process so that the appropriate information can be reviewed with insurers.
Certain placements may require additional documentation or services, such as condition reporting or third party condition checks, including Articheck reports or similar documentation. These services are separate from insurance premium and may be charged in addition to the cost of coverage where applicable.
OVERVIEW OF INSURANCE ARRANGEMENTS
Aiston maintains specialized insurance arrangements intended to address certain risks associated with the professional handling, transportation, storage, packing, installation, and related services involving fine art and other property. These arrangements differ from standard commercial cargo insurance and are designed for the fine art logistics environment.
Aiston’s insurance program generally involves two separate forms of coverage:
- Fine Art Packers and Shippers Legal Liability Insurance
- Customer All Risks Physical Loss and Damage Insurance, available only when specifically requested
These coverages serve different purposes and operate independently. The presence of one form of coverage does not imply the availability or applicability of the other.
LEGAL LIABILITY INSURANCE
Nature of Coverage
Aiston maintains Fine Art Packers and Shippers Legal Liability Insurance for the protection of Aiston against claims alleging loss of or damage to property arising from Aiston’s negligence while such property is in Aiston’s care, custody, and control.
This insurance is liability coverage only. It does not insure client property against all risks and does not provide first party insurance coverage that automatically responds to loss or damage regardless of fault.
Limitations of Legal Liability
Legal liability coverage is subject to material limitations, including:
- Coverage applies only where negligence or other legal fault is established under applicable law
- Claims are evaluated under legal standards rather than declared values unless otherwise required by the governing agreement
- Contractual limitations, defenses, exclusions, and caps on liability apply
- Loss of market value, delay, diminution in value, and consequential loss are excluded
Legal liability insurance does not expand, modify, or override Aiston’s contractual or statutory limitation of liability as set forth in Aiston’s governing agreements.
Clients should not rely on legal liability insurance as a substitute for fine art insurance.
CUSTOMER ALL RISKS PHYSICAL LOSS AND DAMAGE INSURANCE
Availability of Coverage
Customer all risks physical loss and damage insurance may be available when a client expressly instructs Aiston, in writing and in advance of service commencement, to arrange insurance coverage for specified property and coverage is confirmed by insurers.
Absent express written instruction and written confirmation, no customer all risks coverage shall apply.
When insurance is arranged, Aiston acts solely as agent for the client in placing coverage. All insurance is underwritten by independent third party insurers and is governed exclusively by the applicable policy terms, conditions, exclusions, deductibles, and limits.
Scope of Coverage
When properly bound and subject to policy terms, customer all risks coverage may apply to covered physical loss or damage during the period Aiston has accepted responsibility for the property. Depending on the engagement, this may include:
- Packing, unpacking, handling, staging, and internal movement
- Transportation, including loading and unloading
- Temporary or incidental storage during transit
- Long term or short term storage
- Installation and deinstallation
Coverage is subject to territorial limitations, sanctions provisions, exclusions, deductibles, and insurer approval. Certain destinations, values, or circumstances may require advance underwriting review or additional documentation.
COVERED RISKS AND EXCLUSIONS
Customer all risks coverage is intended to insure against accidental or malicious physical loss or damage as defined by the applicable policy. It does not extend to every possible cause of loss.
Typical exclusions may include, without limitation:
- Wear and tear, inherent vice, gradual deterioration, or latent defect
- Mold, insects, vermin, warping, shrinkage, or environmental effects
- Conservation, restoration, reframing, or similar processes
- Loss of market value, delay, or consequential loss
- Mechanical or electrical failures not caused by negligence
- War, nuclear risks, or terrorism unless specifically endorsed
- Communicable disease related losses
- Sanctioned or excluded territories
Clients are responsible for advising Aiston of unusual risks, destinations, special handling requirements, or unique value considerations prior to commencement of services.
VALUATION AND LOSS SETTLEMENT
Customer all risks coverage is based on values declared by the client.
Clients represent and warrant that declared values are accurate, complete, and reflect the true value of the property. Under declaration of value may materially limit recovery.
In the event of a covered loss, settlement is determined by insurers under the policy terms. Settlement may depend on the circumstances of the loss and the valuation provisions contained in the policy.
CLAIMS REPORTING AND HANDLING
Claims When Insured Through Aiston
When customer all risks coverage applies, clients must notify Aiston immediately upon discovery of loss or damage and comply with all policy and contractual requirements.
Insurers retain sole authority to investigate, adjust, and settle claims. Delay in reporting, failure to cooperate, or unauthorized restoration or disposal may prejudice or void coverage.
Claims When Not Insured Through Aiston
When property is not insured through Aiston, any claim is evaluated solely under legal liability principles. The client bears the burden of establishing negligence and recovery may be limited or unavailable under the governing agreements and applicable law.
Clients may need to pursue recovery under their own insurance policies.
Aiston makes no representation regarding the availability, scope, or adequacy of any third party insurance.
FREQUENTLY ASKED QUESTIONS
The following questions address common topics raised by clients when considering insurance in connection with Aiston’s services. These responses are intended to provide general guidance and should be read together with the information above and Aiston’s governing agreements.
Do I need to insure my artwork if Aiston already carries legal liability insurance?
Aiston’s legal liability insurance applies only where Aiston is legally liable for loss or damage under applicable law and the governing agreement. It does not insure artwork against all risks and does not automatically respond to loss or damage regardless of fault. Many clients elect to arrange all risks insurance in order to protect against a broader range of potential events.
What is the difference between legal liability coverage and all risks insurance?
Legal liability coverage responds only if negligence or other legal fault is established and is subject to contractual limitations and exclusions. All risks insurance, when arranged, is intended to insure against covered physical loss or damage regardless of fault, subject to policy terms, exclusions, deductibles, and underwriting approval.
When does insurance coverage begin and end if I insure through Aiston?
Coverage may apply once insurers have confirmed placement and Aiston has accepted responsibility for the property, subject to the applicable policy terms. Coverage periods may include packing, handling, transit, installation, and storage depending on the scope of services and the insurance placement.
What types of artwork or property can be insured through Aiston?
Insurance may be available for a wide range of fine art and related property, including paintings, sculptures, works on paper, photographs, mixed media, and certain decorative or collectible objects. Availability and terms depend on the nature of the property, declared value, location, and other underwriting considerations.
How do I request insurance coverage?
Insurance must be expressly requested in writing and in advance of service commencement. Requests typically include a description of the property, declared values, and the scope of services. Coverage applies only when placement has been confirmed by insurers.
How is the insured value determined?
Insurance is based on values declared by the client. Declared values should reflect fair market value or an agreed value immediately prior to the commencement of services. Clients are responsible for ensuring declared values are accurate and current.
What does insurance arranged through Aiston typically cost?
Insurance pricing varies depending on the nature of the property, declared value, locations involved, duration of transit or storage, and other underwriting considerations. Pricing is provided on a case by case basis as part of a specific quotation when insurance is requested.
What happens if my artwork is damaged while insured through Aiston?
The client should notify Aiston immediately. Aiston will assist with reporting the claim to insurers. Insurers will investigate the circumstances of the loss, determine coverage under the policy terms, and direct any required conservation or restoration. All claims are adjusted and settled by insurers.
What happens if my artwork is damaged and I did not insure it through Aiston?
Any claim is evaluated solely under legal liability principles. The client bears the burden of establishing negligence, and recovery may be limited or unavailable under the governing agreements and applicable law. Clients may need to pursue recovery under their own insurance policies.
Are condition reports or third-party condition checks required?
Depending on the nature of the property, declared value, and scope of services, condition reports or third-party condition checks, such as Articheck reports, may be required or recommended. These services are separate from insurance premium and may be billed additionally when applicable.
CONTRACTUAL CLAIMS REQUIREMENTS
All claims, whether insured or uninsured, remain subject to the notice, documentation, inspection, and time limitation requirements set forth in Aiston’s governing agreements. Failure to comply with these requirements may bar recovery irrespective of insurance status.
CLIENT RESPONSIBILITIES
Clients are solely responsible for determining appropriate insurance arrangements for their property. This includes deciding whether to request insurance, providing accurate declared values, reviewing coverage terms and exclusions, and promptly reporting any loss or damage.
No failure by Aiston to recommend insurance shall constitute a waiver or assumption of responsibility, and nothing on this page shall be construed to create any duty to advise regarding insurance adequacy.
NO GUARANTEE OF COVERAGE
Nothing on this page shall be construed as a guarantee that insurance coverage will apply in any particular circumstance. All coverage determinations are made exclusively by insurers based on policy terms, the facts of the incident, and applicable law.